VPNG.L vs. SMGB.L

Last updated Jun 5, 2026

VPNG.L (Global X Data Center REITs & Digital Infrastructure UCITS ETF USD Accumulating) and SMGB.L (VanEck Semiconductor UCITS ETF) are both exchange-traded funds - VPNG.L is a Technology Equities fund tracking the Solactive Data Center REITs & Digital Infrastructure v2 Index, while SMGB.L is a Semiconductors fund tracking the MSCI World/Information Tech NR USD. Both are passively managed. Over the past 3 years, VPNG.L returned 31.82%/yr vs 57.16%/yr for SMGB.L. A 0.59 correlation means they provide meaningful diversification when combined. VPNG.L charges 0.50%/yr vs 0.35%/yr for SMGB.L.

Performance

VPNG.L vs. SMGB.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Global X Data Center REITs & Digital Infrastructure UCITS ETF USD Accumulating (VPNG.L) and VanEck Semiconductor UCITS ETF (SMGB.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VPNG.L achieves a 50.78% return, which is significantly lower than SMGB.L's 85.49% return.

VPNG.L

• 1D: -1.94%
• 1M: 7.58%
• YTD: 50.78%
• 6M: 48.78%
• 1Y: 79.93%
• 3Y*: 31.82%
• 5Y*: —
• 10Y*: —

SMGB.L

• 1D: -2.49%
• 1M: 17.92%
• YTD: 85.49%
• 6M: 82.97%
• 1Y: 170.23%
• 3Y*: 57.16%
• 5Y*: 38.39%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

VPNG.L vs. SMGB.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
VPNG.L Global X Data Center REITs & Digital Infrastructure UCITS ETF USD Accumulating	50.78%	20.65%	15.20%	11.28%	-22.08%	1.80%
SMGB.L VanEck Semiconductor UCITS ETF	85.49%	38.79%	26.31%	66.17%	-27.49%	-2.02%

Correlation

The correlation between VPNG.L and SMGB.L is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (All Time) Calculated using the full available price history since Dec 10, 2021	0.59

The correlation between VPNG.L and SMGB.L has been stable across timeframes, ranging from 0.59 to 0.68 - a consistent structural relationship.

Return for Risk

VPNG.L vs. SMGB.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VPNG.L

VPNG.L Risk / Return Rank: 91
VPNG.L Sharpe Ratio Rank: 94
VPNG.L Sortino Ratio Rank: 92
VPNG.L Omega Ratio Rank: 90
VPNG.L Calmar Ratio Rank: 91
VPNG.L Martin Ratio Rank: 89

SMGB.L

SMGB.L Risk / Return Rank: 97
SMGB.L Sharpe Ratio Rank: 98
SMGB.L Sortino Ratio Rank: 96
SMGB.L Omega Ratio Rank: 95
SMGB.L Calmar Ratio Rank: 98
SMGB.L Martin Ratio Rank: 97

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VPNG.L vs. SMGB.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Data Center REITs & Digital Infrastructure UCITS ETF USD Accumulating (VPNG.L) and VanEck Semiconductor UCITS ETF (SMGB.L). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	VPNG.L	SMGB.L	Difference
Sharpe ratio: Return per unit of total volatility	3.66	5.58	-1.92
Sortino ratio: Return per unit of downside risk	4.44	5.70	-1.25
Omega ratio: Gain probability vs. loss probability	1.58	1.74	-0.16
Calmar ratio: Return relative to maximum drawdown	5.73	14.46	-8.73
Martin ratio: Return relative to average drawdown	19.68	50.72	-31.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VPNG.L vs. SMGB.L - Sharpe Ratio Comparison

The current VPNG.L Sharpe Ratio is 3.66, which is lower than the SMGB.L Sharpe Ratio of 5.58. The chart below compares the historical Sharpe Ratios of VPNG.L and SMGB.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VPNG.L	SMGB.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.66	5.58	-1.92
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.26	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.71	1.25	-0.54

Drawdowns

VPNG.L vs. SMGB.L - Drawdown Comparison

The maximum VPNG.L drawdown since its inception was -26.74%, smaller than the maximum SMGB.L drawdown of -36.24%. Use the drawdown chart below to compare losses from any high point for VPNG.L and SMGB.L.

Drawdown Indicators

	VPNG.L	SMGB.L	Difference
Max Drawdown Largest peak-to-trough decline	-26.74%	-36.24%	+9.50%
Max Drawdown (1Y) Largest decline over 1 year	-14.22%	-11.94%	-2.28%
Max Drawdown (3Y) Largest decline over 3 years	-26.74%	-36.24%	+9.50%
Max Drawdown (5Y) Largest decline over 5 years	—	-36.24%	—
Current Drawdown Current decline from peak	-1.94%	-2.49%	+0.55%
Average Drawdown Average peak-to-trough decline	-11.45%	-9.75%	-1.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.15%	3.41%	+0.74%

Volatility

VPNG.L vs. SMGB.L - Volatility Comparison

The current volatility for Global X Data Center REITs & Digital Infrastructure UCITS ETF USD Accumulating (VPNG.L) is 6.89%, while VanEck Semiconductor UCITS ETF (SMGB.L) has a volatility of 12.41%. This indicates that VPNG.L experiences smaller price fluctuations and is considered to be less risky than SMGB.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VPNG.L	SMGB.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.89%	12.41%	-5.52%
Volatility (6M) Calculated over the trailing 6-month period	16.34%	23.93%	-7.59%
Volatility (1Y) Calculated over the trailing 1-year period	22.38%	30.96%	-8.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.73%	30.45%	-9.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.73%	30.19%	-9.46%

VPNG.L vs. SMGB.L - Expense Ratio Comparison

VPNG.L has a 0.50% expense ratio, which is higher than SMGB.L's 0.35% expense ratio.

Dividends

VPNG.L vs. SMGB.L - Dividend Comparison

Neither VPNG.L nor SMGB.L has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
SMGB.L VanEck Semiconductor UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.44%
VPNG.L Global X Data Center REITs & Digital Infrastructure UCITS ETF USD Accumulating	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VPNG.L and SMGB.L in my portfolio?

VPNG.L and SMGB.L have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VPNG.L or SMGB.L?

On fees, SMGB.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VPNG.L or SMGB.L?

SMGB.L is cheaper with a 0.35% expense ratio, compared with 0.50% for VPNG.L.

What is the main difference between VPNG.L and SMGB.L?

VPNG.L is categorized as Technology Equities, while SMGB.L is Semiconductors. VPNG.L tracks Solactive Data Center REITs & Digital Infrastructure v2 Index, while SMGB.L tracks MSCI World/Information Tech NR USD. They also come from different issuers: Global X and VanEck. Their fees differ too: 0.50% for VPNG.L and 0.35% for SMGB.L.